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Chicago Atlantic Real Estate Finance, Inc. logo

Chicago Atlantic Real Estate Finance, Inc.

REFI

NASDAQReal EstateREIT - Mortgage

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Regular session

$10.85

+$0.07 · +0.65%

Aug 24, 10:19 AM ET

REFI company overview

Regular session · ET · Market data may be delayed.

GoAI snapshot

AI-powered factor overview

Jul 10, 2026

GoAI score

Hold

Wait — insufficient conviction to act

Valuation

85

Deep Value

Momentum

30

Weakening

Sentiment

51

Mixed

Risk resilience

66

Moderate Risk

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Company profile

Company website

Chicago Atlantic Real Estate Finance, Inc. functions as a commercial real estate financing enterprise operating throughout the United States. Its primary activities include developing, arranging, and deploying capital into various secured debt instruments, notably first mortgage loans, which are collateralized by commercial properties. A specific area of focus for the company is extending senior-priority loans to both state-approved operators and property owners within the legal cannabis industry. Chicago Atlantic has chosen to be taxed as a Real Estate Investment Trust (REIT), which allows it to avoid federal corporate income tax, conditional on distributing a minimum of 90% of its taxable profits to its investors. The firm was established in 2021 and is headquartered in Chicago, Illinois.

Industry
REIT - Mortgage
Sector
Real Estate
Headquarters
US
CEO
Anthony Robert Cappell
Listed since
Dec 8, 2021
Employees
0

Market position

Day range

Current $10.85

52-week range

Current $10.85

Open
$10.805
Previous close
$10.78
Volume
8.53K
0.05× average
Average volume
165.47K
Average daily volume
Market cap
231.26M USD
Beta
0.32
Market reference 1
50-day average
$10.5639
+2.71% above average
200-day average
$11.7475
-7.64% below average

Financials

Financial snapshot

Latest / TTM

Valuation & yield

Enterprise value
340.99M USD
EV / EBITDA
9.47×
Earnings yield
13.98%
Free cash flow yield
11.18%

Profitability & efficiency

Return on equity
11.70%
Return on assets
8.47%
Return on invested capital
8.85%

Financial health

Current ratio
0.28×

Financial statements

Margin trends

Profitability as a percentage of reported revenue.

Gross marginOperating marginNet margin
Gross, operating, and net margin trends104%87%70%53%Gross margin, FY2021: 98.46%Gross margin, FY2022: 100.00%Gross margin, FY2023: 100.00%Gross margin, FY2024: 100.00%Gross margin, FY2025: 86.88%Operating margin, FY2021: 87.51%Operating margin, FY2025: 57.07%Net margin, FY2021: 87.51%Net margin, FY2022: 66.10%Net margin, FY2023: 67.52%Net margin, FY2024: 67.62%Net margin, FY2025: 57.07%FY2021FY2022FY2023FY2024FY2025
Gross margin FY2021 98.46%. Gross margin FY2022 100.00%. Gross margin FY2023 100.00%. Gross margin FY2024 100.00%. Gross margin FY2025 86.88%. Operating margin FY2021 87.51%. Operating margin FY2025 57.07%. Net margin FY2021 87.51%. Net margin FY2022 66.10%. Net margin FY2023 67.52%. Net margin FY2024 67.62%. Net margin FY2025 57.07%.

Income trends

Revenue

63.1M USD+15.18%

Operating income

36.01M USD+184.40%

Net income

36.01M USD-2.79%
Income trends across reported periods68.14M USD47.97M USD27.79M USD7.62M USDRevenue, FY2021: 14.47M USDRevenue, FY2022: 48.86M USDRevenue, FY2023: 57.33M USDRevenue, FY2024: 54.78M USDRevenue, FY2025: 63.1M USDOperating income, FY2021: 12.66M USDOperating income, FY2025: 36.01M USDNet income, FY2021: 12.66M USDNet income, FY2022: 32.29M USDNet income, FY2023: 38.71M USDNet income, FY2024: 37.05M USDNet income, FY2025: 36.01M USDFY2021FY2022FY2023FY2024FY2025
Revenue FY2021 14.47M USD. Revenue FY2022 48.86M USD. Revenue FY2023 57.33M USD. Revenue FY2024 54.78M USD. Revenue FY2025 63.1M USD. Operating income FY2021 12.66M USD. Operating income FY2025 36.01M USD. Net income FY2021 12.66M USD. Net income FY2022 32.29M USD. Net income FY2023 38.71M USD. Net income FY2024 37.05M USD. Net income FY2025 36.01M USD.
Metric (USD)FY2025FY2024FY2023FY2022FY2021
Revenue63.1M USD54.78M USD57.33M USD48.86M USD14.47M USD
Cost of goods sold8.28M USD———223.46K USD
Gross profit54.82M USD54.78M USD57.33M USD48.86M USD14.24M USD
Selling, general, and administrative8.67M USD8.45M USD6.74M USD3.96M USD1.58M USD
Operating expenses18.81M USD54.78M USD57.33M USD48.86M USD1.58M USD
Interest income62.94M USD62.1M USD62.9M USD51.47M USD10.75B USD
Interest expense7.55M USD7.15M USD5.75M USD2.61M USD75.86K USD
Depreciation and amortization———563.46M USD101.15K USD
Operating income36.01M USD———12.66M USD
Net income36.01M USD37.05M USD38.71M USD32.29M USD12.66M USD

Company facts updated Aug 24, 2026.

Analyst ratings

Third-party consensus; not a GoAI recommendation.

Analyst price target

Average target

$16.00

47.47% upside
Past 12 months12-month forecastHigh $16.00Average $16.00Low $16.00

Recent analyst actions

5 institutions
CitizensmaintainMarket Outperform
Citizens Capital MarketsmaintainMarket Outperform
Zuanic & AssociatesmaintainOverweight
Compass PointdowngradeBuyNeutral

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ETFs holding REFI

Funds reporting this stock among their holdings, ordered by reported position size.

iShares Russell 2000 ETF logoiShares Russell 2000 ETFIWM
Market value
5.79M
Weight
0.01%
AUM
81.62B USD
Expense ratio
0.19%
Price / 1D
$298.76-0.40%
Vanguard Morningstar Total Stock Market ETF logoVanguard Morningstar Total Stock Market ETFVTI
Market value
5.57M
Weight
0.00%
AUM
2.3T USD
Expense ratio
0.03%
Price / 1D
$376.84-0.37%
iShares Mortgage Real Estate ETF logoiShares Mortgage Real Estate ETFREM
Market value
2.38M
Weight
0.44%
AUM
544.56M USD
Expense ratio
0.48%
Price / 1D
$22.07+0.23%
iShares Russell 2000 Value ETF logoiShares Russell 2000 Value ETFIWN
Market value
2.15M
Weight
0.01%
AUM
14.66B USD
Expense ratio
0.24%
Price / 1D
$225.14+0.14%
Vanguard Extended Market ETF logoVanguard Extended Market ETFVXF
Market value
1.99M
Weight
0.00%
AUM
93.7B USD
Expense ratio
0.05%
Price / 1D
$243.82-0.70%
Hoya Capital High Dividend Yield ETF logoHoya Capital High Dividend Yield ETFRIET
Market value
1.28M
Weight
1.16%
AUM
108.6M USD
Expense ratio
0.50%
Price / 1D
$9.54+0.63%
Vanguard Russell 2000 ETF logoVanguard Russell 2000 ETFVTWO
Market value
1.04M
Weight
0.01%
AUM
17.4B USD
Expense ratio
0.06%
Price / 1D
$120.79-0.38%
iShares Micro-Cap ETF logoiShares Micro-Cap ETFIWC
Market value
722.83K
Weight
0.05%
AUM
1.53B USD
Expense ratio
0.60%
Price / 1D
$196.84-0.65%

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